TORONTO, ON / ACCESSWIRE / September 29, 2022 / Uplinq Financial Technologies - the first global credit assessment and scoring platform for SMB lenders - today announced the addition of Daniel Moore to its advisory board, where he will help guide Uplinq''s strategic direction. Moore previously served as Chief Risk Officer at Scotiabank and brings more than 25 years of experience in risk management, corporate banking, and capital markets. He also holds advisory roles with Ernst & Young and the Global Risk Institute. "Daniel is a highly seasoned and well-respected industry veteran, and it''s a privilege to welcome him to the growing Uplinq family as we continue our march forward," said Ron Benegbi, Founder and CEO of Uplinq. "With his deep expertise in risk management and extensive background in financial services, I''m confident in Daniel''s ability to offer the best possible counsel to our firm and help steer Uplinq to continued success. I''m grateful that Daniel has stepped on board as we work to expand access to credit lending for small businesses." During his tenure at Scotiabank, Moore built and managed capital markets teams in Canada, Europe, and Asia, and expanded the bank''s capabilities in risk management, offering risk mitigation and support to customers globally through the pandemic.
Bank of Nova Scotia shares are on pace for their worst year since 2008 as analysts warn of weakness in the Canadian lender’s international business and uncertainty about the shakeup in its leadership.
Bank of Nova Scotia stock just dropped on big news. Is BNS stock now oversold? The post Bank of Nova Scotia Stock: Should You Buy Now? appeared first on The Motley Fool Canada .
Bank of Nova Scotia said on Monday it appointed Scott Thomson, a board member for six years, to succeed Chief Executive Officer Brian Porter, a move that came as a surprise due to the new CEO’s lack of familiarity among bank investors. Thomson, 52, is joining Scotiabank from Finning International Inc, the largest dealer of […]
It''s rare for a Canadian bank CEO to come from outside of its executive
Brian Porter, President & CEO has decided to retire, effective January 31, 2023Scott… The post Scotiabank (TSX:BNS) announces Brian J. Porter’s retirement appeared first on The Market Herald .
Marathon Gold (TSE:MOZ – Get Rating) had its target price decreased by Scotiabank from C$3.00 to C$2.25 in a report issued on Friday morning, BayStreet.CA reports. MOZ has been the subject of several … Read Full Story at source (may require registration) The post Marathon Gold (TSE:MOZ) Price Target Cut to C$2.25 by Analysts at Scotiabank appeared first on ForexTV .
The Bank of Nova Scotia (NYSE:NYSE:BNS) Barclays Global Financial Services Conference September 13, 2022 09:00 AM ET Company Participants Raj Viswanathan - Chief Financial Officer…
Scotiabank stock has been battered, as it remains nearly 25% below its March 2022 highs. Click here to read why BNS seems attractive at the current levels.
Bank of Nova Scotia''s 10-year earnings per share growth of 5.3% annually underperformed its big Canadian bank peers. Passive income investors may be interested to take a closer look at BNS.
5.25% Sustainability-Linked Notes, Series CAG due November 15, 2032 5.65% Notes, Series CAH due September 13, 2052 5.00% Notes, Series CAI due September 13, 2029 VANCOUVER, British Columbia, Sept. 08, 2022 (GLOBE NEWSWIRE) -- TELUS announced today it has priced $2.0 billion of senior unsecured notes in three series, the first with a 10-year maturity, the second with a 30-year maturity and the third with a 7-year maturity. The notes are offered through a syndicate of agents led by CIBC Capital Markets, RBC Capital Markets and Scotiabank. Closing of the offering is expected to occur on or about September 13, 2022. The 5.25% Sustainability-Linked notes, Series CAG (the "Series CAG Notes"), were priced at $99.673 per $100 principal amount for an effective yield of 5.293% per annum until maturity , subject to a possible interest rate step-up, and will mature on November 15, 2032. The 5.65% notes, Series CAH, were priced at $99.613 per $100 principal amount for an effective yield of 5.677% per annum until maturity , and will mature on September 13, 2052.
Royal Bank of Canada (NYSE:NYSE:RY) Scotiabank 23rd Annual Financial Summit September 7, 2022 09:35 AM ET Company Participants Dave McKay - President & Chief Executive Officer…
Joins Royal Bank of Canada in aiming to reduce remote work for staff
Bank of Nova Scotia expects more of its employees to return to the office in the months ahead, making it Canada’s second major lender to publicly say it’s aiming to reduce remote work for its staff.
/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES / GROSS PROCEEDS OF PREVIOUSLY ANNOUNCED CONVERTIBLE DEBENTURE FINANCING INCREASED TO $155 MILLION TORONTO , Aug. 31, 2022 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH ) ("NorthWest" or the "REIT") announced today the issuance of an additional $20.25 million aggregate principal amount of 6.25% convertible unsecured subordinated debentures of the REIT. The issuance was pursuant to the exercise in full of an over-allotment option (the "Over-Allotment Option") granted by the REIT to a syndicate of underwriters co-led by RBC Capital Markets and Scotiabank in connection with the REIT''s recent offering of 6.25% convertible unsecured subordinated debentures, on a bought deal basis (the "Offering"), which closed on August 25, 2022 . The exercise of the Over-Allotment Option increases the total gross proceeds of the Offering to $155.25 million . For more information on the Offering, please refer to the REIT''s news release issued on August 25, 2022 .
MONTREAL, Aug. 31, 2022 (GLOBE NEWSWIRE) -- DAVIDsTEA Inc. (Nasdaq: DTEA) (“DAVIDsTEA” or the “Company”), a leading tea merchant in North America, announced today that it has entered into an agreement with the Bank of Nova Scotia for a revolving line of credit in an amount of CAD $15 million.
The latest Canadian banking sector earnings season continues to surprise investors. While some of the largest Canadian banks, like Royal Bank of Canada and Bank of Nova Scotia, continue to disappoint investors by missing analysts’ estimates, some smaller banks are continuing to beat expectations. In this article, I’ll talk about the latest quarterly results of […] The post Bank Earnings: 1 of the Best Canadian Bank Stocks for Beginners to Buy Now – The Motley Fool Canada appeared first on Canada News Media .
Immigrant-friendly Canada needs to focus on maximizing the potential of its highly-educated newcomers at prime working age, according to the Bank of Nova Scotia.
TORONTO , Aug. 25, 2022 /CNW/ - Kevin Strain , Sun Life''s President and Chief Executive Officer, will participate in a fireside chat at the Scotiabank Financials Summit. He will be joined by Meny Grauman , Managing Director, Canadian Financial Services, Scotiabank. Date: September 8, 2022 Time: 1:30 p.m. ET To access the live webcast, please visit: sunlife.com/scotiabankconference About Sun Life Sun … Full story available on Benzinga.com
Sends share price to worst drop since the pandemic ravaged markets
Analysts are ratcheting down their ratings on Bank of Nova Scotia after the country’s third-largest lender’s weak international banking results weighed on earnings, sending its share price to its worst drop since the pandemic ravaged markets.
Two analysts downgraded Bank of Nova Scotia (BNS), known as Scotiabank, to Neutral ratings as their earlier, more bullish calls on the Canadian bank aren''t playing out as they expected
Equities in Canada’s largest centre managed to surmount the closing level of the day before, as energy gain, just managed to overcome weakness in financial and health-care stocks. The TSX gained 10.43 points to close Tuesday to 19,985.35. The Canadian dollar recovered 0.55 cents to 77.18 cents U.S. Financials were in the spotlight for the wrong reasons, as Scotiabank slid $4.26, or 5.3%, to $76.52, while Sun Life dipped $1.12, or 1.9%, to $59.52. In health-care issues, Bausch Health Companies descended 47 cents, or 6.5%, to $6.81, while Aurora Cannabis docked five cents, or 2.7%, to $1.83. In tech companies, Quarterhill lost three cents, or 1.6%, to $1.87, while Shopify ditched $1.10, or 2.6%, to $42.15. Energy stocks tried to even things out, as Precision Drilling hiked $4.06, or 5%, to $85.61, while MEG Energy triumphed 89 cents, or 5.3%, to $17.85. In materials, Lundin Mining picked up 58 cents, or 8.5%, to $7.39, while Hudbay Minerals acquired 51 cents, or 9.5%, to $5.86. Among gold stocks, Equinox Gold advanced 13 cents, or 2.7%, to $5.01, while Iamgold Corporation was seven cents, or 4.3%, to the better, at $1.71.
BNS earnings call for the period ending June 30, 2022.
Scotiabank reported third-quarter net income of $2.59 billion, up from $2.54 billion in the same quarter last year.
Customers at Atlantic Canada Sobeys, Foodland, Voilà by Sobeys, Needs and Lawtons Drugs stores are now earning Scene+ points when shopping and, until September 21 , have a chance to win free groceries for a year 1 Scene+ will roll out at Empire''s other banners by region across the country this year and into early 2023, with Western Canada up next in September STELLARTON, NS , Aug. 22, 2022 /CNW/ - Empire Company Limited ("Empire" or the "Company") (TSX: EMP ) is thrilled to see customers engaging with the new and expanded Scene+ loyalty program following its debut in its Atlantic Canada stores on August 11. In June, Empire announced its co-ownership of Scene+ , one of Canada''s leading loyalty rewards programs, along with Scotiabank and Cineplex. With the addition of Empire, these iconic Canadian brands are transforming Scene+ into a preeminent loyalty program. Atlantic Canada was the first region in the country to introduce Scene+ in Empire''s family of stores. 2 The excitement will continue with the launch of the program at stores in British Columbia , Alberta , Saskatchewan and Manitoba on September 22 , continuing with additional regional launches through the remainder of Canada in 2022 and into early 2023.
/NOT FOR DISTRIBUTION TO U.S. NEWS SERVICES OR DISSEMINATION IN THE UNITED STATES / TORONTO , Aug. 22, 2022 /CNW/ - Chemtrade Logistics Income Fund (TSX: CHE ) (" Chemtrade " or the " Fund ") announced today that it has completed its previously-announced public offering of trust units (" Trust Units ") at a price of $8.65 per Trust Unit. The underwriters elected to exercise the over-allotment option in full, resulting in a total of 10,005,000 Trust Units being issued today for gross proceeds of approximately $86.5 million (the " Offering "). The Trust Units were sold to a syndicate of underwriters led by BMO Capital Markets and RBC Capital Markets, and which included CIBC Capital Markets, National Bank Financial Inc., Scotiabank, TD Securities Inc. and Desjardins Securities Inc. (collectively, the " Underwriters "), on a bought deal basis. Chemtrade intends to use the net proceeds from the Offering to partially finance Chemtrade''s previously announced ultrapure sulphuric acid growth projects to expand capacity at its existing Ohio plant and to build a new plant in Arizona .
/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES ./ TORONTO , Aug. 17, 2022 /CNW/ - (TSX: SBC ) (TSX: SBC ) Brompton Split Banc Corp. (the "Company") is pleased to announce it is undertaking an overnight treasury offering of class A and preferred shares (the "Class A Shares" and "Preferred Shares", respectively). The sales period for this overnight offering will end at 9:00 a.m. (ET) on Thursday , August 18, 2022. The offering is expected to close on or about August 25, 2022 and is subject to certain closing conditions including approval by the Toronto Stock Exchange ("TSX"). The Class A Shares will be offered at a price of $12.20 per Class A Share for a distribution rate of 9.8% on the issue price, and the Preferred Shares will be offered at a price of $10.00 per Preferred Share for a yield to maturity of 7.9%. (1) The closing price on the TSX for each of the Class A and Preferred Shares on August 16, 2022 was $12.65 and $9.99 , respectively. The Class A Share and Preferred Share offering prices were determined so as to be non-dilutive to the most recently calculated net asset value per unit of the Company ("Unit") (calculated as at August 11, 2022 ), as adjusted for dividends and certain expenses to be accrued prior to or upon settlement of the offering.
TSX: NWH.UN /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES / TORONTO , Aug. 17, 2022 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH ) ("NorthWest" or the "REIT") is pleased to announce that, due to strong demand, it has increased the size of its previously announced public offering, on a "bought deal" basis, of convertible unsecured subordinated debentures (the "Debentures") to $135 million . The Debentures are being offered to the public at a price of $1,000 per Debenture, with an interest rate of 6.25% per annum, payable semi-annually on the last date of August and February commencing on February 28, 2023 (the "Offering"). The Debentures will mature on August 31, 2027 . The Offering is being made through a syndicate of underwriters co-led by RBC Capital Markets and Scotiabank. The REIT has also granted the underwriters the option to purchase up to $20.25 million principal amount of additional Debentures at a price of $1,000 per Debenture to cover over-allotments, exercisable in whole or in part anytime up to 30 days following closing of the Offering.
CALGARY, AB , Aug. 17, 2022 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA ) today announced that it has closed its previously announced offering of $250 million of 7.35% Fixed-to-Fixed Rate Subordinated Notes, Series 2 due August 17, 2082 (the " Offering "). The Company intends to use the net proceeds of the offering to redeem or repurchase its outstanding cumulative redeemable five-year rate reset preferred shares, series C (TSX: ALA ). The subordinated notes are being offered through a syndicate of underwriters, co-led by BMO Capital Markets, RBC Capital Markets and Scotiabank, under AltaGas'' short form base shelf prospectus dated February 22, 2021 , as supplemented by a prospectus supplement dated August 4, 2022 . This news release does not constitute an offer to sell or the solicitation of an offer to buy the subordinated notes in any jurisdiction. The subordinated notes have not been approved or disapproved by any regulatory authority. The subordinated notes have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities law, and may not be offered or sold within Full story available on Benzinga.
TSX: NWH.UN /NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES / TORONTO , Aug. 16, 2022 /CNW/ - NorthWest Healthcare Properties Real Estate Investment Trust (TSX: NWH ) ("NorthWest" or the "REIT") announced today a public offering, on a "bought deal" basis, of $125 million principal amount of convertible unsecured subordinated debentures (the "Debentures"), at a price of $1,000 per Debenture, with an interest rate of 6.25% per annum, payable semi-annually on the last date of August and February commencing on February 28, 2023 (the "Offering"). The Debentures will mature on August 31, 2027 . The offering is being made through a syndicate of underwriters co-led by RBC Capital Markets and Scotiabank. The REIT has also granted the underwriters the option to purchase up to $18.75 million principal amount of additional Debentures at a price of $1,000 per Debenture to cover over-allotments, exercisable in whole or in part anytime up to 30 days following closing of the Offering.
TORONTO , Aug. 16, 2022 /CNW/ - Scotiabank will announce its third quarter results on Tuesday, August 23, 2022 . Scotiabank Results News Release A news release of the Bank''s third quarter results will be issued in Canada and the U.S. over CNW Group at … Full story available on Benzinga.com
Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) stock could be headed to new highs, as shares look to rally on the back of the TSX recovery. The post Stock Market Rally: This Canadian Dividend Aristocrat Is Just Getting Started appeared first on The Motley Fool Canada .
https://www.investing.com/news/pro/bank-of-nova-scotia-pt-lowered-to-cdn85-at-barclays-432SI-2872558
Related Stocks: CTAS , TU , BNS , RCI , LH ,
TORONTO , Aug. 11, 2022 /CNW/ - (TSX: CGX ) - Cineplex Inc. ("Cineplex" or the "Company") today released its financial results for the three and six months ended June 30, 2022 . Unless otherwise specified, all amounts are in Canadian dollars. "Cineplex delivered its strongest quarter in over two years, thanks to a great film slate and record-breaking results from across our diversified businesses," said Ellis Jacob , President & CEO, Cineplex. "The cumulative success of Top Gun: Maverick , Doctor Strange in the Multiverse of Madness , and Jurassic World Dominion during the quarter – which saw each film opening with a domestic box office over $100 million – is a testament to the fact that when strong film product is available, Canadians return to our theatres in droves. We generated positive net income for the first time since the start of the pandemic. We also achieved a second quarter record BPP of $12.29 and an all-time quarterly record CPP of $8.84 . We also saw very encouraging results in our other businesses, including an all-time quarterly record adjusted EBITDAaL in Player One Amusement Group and record second quarter adjusted EBITDAaL in the Location-Based Entertainment business." Jacob continued, "in addition to reporting our strongest results since the pandemic began, this quarter we are celebrating a few other important milestones from across the business, including the expansion of the Scene+ loyalty program and Empire Company Limited joining Scotiabank and Cineplex as partners.
Revenue was $1,686.0 million as compared to $1,281.1 million in the prior year, an increase of 32% and the highest second quarter revenue reported in the Company''s history Net income for the period was $39.1 million , which includes $10.0 million of incremental inventory writedowns, versus net income of $37.7 million in the prior year Adjusted EBITDA 1 was $75.6 million versus $70.5 million in the prior year, an increase of 7.2%; normalized increase of 11.9% as compared to prior year normalized adjusted EBITDA 1 of $67.5 million Adjusted EBITDA margin 1 was 4.5% versus the normalized adjusted EBITDA margin 1 of 5.3% in the prior year, a decrease of (0.8) percentage points Diluted earnings per share was $1.33 , an increase of $0.10 from $1.23 in the prior year Indebtedness of $375.0 million at the end of Q2 2022 compares to $358.5 million at the end of Q1 2022 Net indebtedness 1 of $294.1 million at the end of Q2 2022 compares to $248.8 million at the end of Q1 2022 EDMONTON, AB , Aug.
Related Stocks: BMO , BNS , CM , RY , TD ,
Nutrien (NTR) +2.9% in Tuesday''s trading after Scotiabank upgraded shares to Outperform from Sector Perform with a $110 price target, trimmed from $118, on a strongly bullish view of…
Scotiabank announced the launch of Quanto MXN-denominated structured notes linked to MSCI Food Revolution and Ageing Society Indexes. The offerings mark the first-ever launch in Latin America of structured products linked to custom MSCI indexes, bringing innovation and diversification into the Mexican market. The structured solution commercialized by BNP Paribas, the EU’s leading bank, provides
Equinox Gold (CVE:EQX – Get Rating) had its price target reduced by research analysts at Scotiabank from C$11.75 to C$10.25 in a report issued on Friday, BayStreet.CA reports. Scotiabank’s price … Read Full Story at source (may require registration) The post Equinox Gold (CVE:EQX) Price Target Cut to C$10.25 appeared first on ForexTV .
CALGARY, AB , Aug. 4, 2022 /CNW/ - AltaGas Ltd. ("AltaGas" or the "Company") (TSX: ALA ) today announced that it has priced an offering of $250 million of 7.35% Fixed-to-Fixed Rate Subordinated Notes, Series 2 due August 17, 2082 (the " Offering "). The Offering is expected to close on or about August 17, 2022 . The Company intends to use the net proceeds of the offering to redeem or repurchase its outstanding cumulative redeemable five-year rate reset preferred shares, series C (TSX: ALA ). The subordinated notes are being offered through a syndicate of underwriters, co-led by BMO Capital Markets, RBC Capital Markets and Scotiabank, under AltaGas'' short form base shelf prospectus dated February 22, 2021 , as supplemented by a prospectus supplement dated August 4, 2022 . This news release does not constitute an offer to sell or the solicitation of an offer to buy the subordinated notes in any jurisdiction. The subordinated notes have not been approved or disapproved by any regulatory authority.
Canadian investors still have the opportunity to snatch up discounted TSX stocks like Bank of Nova Scotia (TSX:BNS)(NYSE:BNS) in late July. The post ALERT: 3 Undervalued TSX Stocks to Buy Before August appeared first on The Motley Fool Canada .
https://www.investing.com/news/pro/scotiabank-assumes-range-resources-at-sector-perform-432SI-2853148
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https://www.investing.com/news/pro/scotiabank-assumes-chesapeake-energy-at-sector-perform-432SI-2853144
https://www.investing.com/news/pro/scotiabank-assumes-cnx-resources-at-sector-perform-432SI-2853143
MMP, MO, LGGNY, EPD, BTI, OKE, ALIZY, ENB, MFC, PBA, and BNS are higher-yielding and far superior long-term blue-chip alternatives to AT&T. Read why here.
TORONTO/OTTAWA : Shares of Rogers Communications Inc and takeover target Shaw Communications fell yesterday as analysts voiced concerns over increased risk to the C$20 billion (RM68 billion) deal following last week''s 19-hour Rogers outage. Rogers suffered an unprecedented outage on Friday that affected nearly every facet of daily life in Canada as access to internet and phone services, both mobile and landline, was cut off. Some callers could not reach emergency services via 911 calls, police across Canada said. Yesterday, Canadian payment gateway Interac said it was adding another network provider to its system after the Rogers outage left millions of Canadians locked out of online payments. “We are adding a supplier (besides Rogers) to strengthen our existing network redundancy so Canadians can continue to rely on Interac daily,” Interac said in a statement. Rogers’ Canadian-listed shares fell 4.6% and Shaw dropped 4.3% to C$34.67, while the benchmark Canadian share index ended down 1.2%.
US equity earnings season starts on Thursday with financials. Many people are looking to economic data, technical levels or markets like bonds to determine if we''re at an inflection point. For me, the tell is always in sentiment. Markets always bottom well before the economic data as investors flee and pessimism reigns. The word ''recession'' is on the tip of everyone''s tongue and sentiment around Europe is brutal. If Russia cuts off European gas we could see a real rout but otherwise, there are signs that the worst is already priced in. For earnings season, no one believes the analyst numbers. Here''s a survey of institutional investors from Scotiabank. This earnings season will be a clear case of the difference between ''analyst expectations'' and ''what''s priced in'', with the latter being much more bearish. I think we got a preview at the start of the month when Micron took down its Q4 revenue guide to $7.2 billion, far short of the $9.15 billion consenus. What happened? Shares initially fell in the pre-market but the buyers quickly waded in and it closed above the openingi levels, then rallied the next day and has continued to climb.